Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Technology
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Visual Stories
  • Reviews
  • Phone Reviews
  • Fitness Bands Reviews
  • Speakers Reviews
  • Find Cricket Statistics
Hindi
More
In the news
Twitter
Gmail
Reserve Bank Of India (RBI)
Reliance
Sensex
New Labour Laws in India
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Technology
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Visual Stories
Reviews
Phone Reviews
Fitness Bands Reviews
Speakers Reviews
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / Service tax officials summon GSTN chief on evasion charges
Business

Service tax officials summon GSTN chief on evasion charges

Service tax officials summon GSTN chief on evasion charges
Written by Jayasri Viswanathan
Feb 19, 2017, 07:00 am 2 min read
Service tax officials summon GSTN chief on evasion charges

The service tax department has summoned Prakash Kumar, CEO of Good and Service Tax Network (GSTN), for possible evasion of tax on software services received from IT major Infosys. However, Kumar has denied receiving any such notice from the tax department. Central and state governments have paid several crores to GSTN to provide IT infrastructure and network for the rollout of the GST.

Definition
What is GSTN?

The GST Network was set up to provide IT infrastructure and services to the Central and State Governments, taxpayers and other stakeholders for the implementation of the GST. Expected on July 1, the GST is a broad-based, comprehensive, single indirect tax on goods and services.

Details
Details of the Infosys contract under tax scrutiny

In September 2015, GSTN awarded Infosys a contract worth Rs. 1,380 crore to build the technology network for GST and to maintain it for five years. However, GSTN took loans to pay Infosys even after government funding and tried unsuccessfully to make state governments repay parts of loan interest. GSTN's main income will be the charges to be levied on the IT network's users.

Audit
GSTN in loggerheads with CAG on audit

Last week, the GSTN rejected a CAG request to appoint an auditor and conduct a supplementary audit, claiming its formation rules allowed it to be outside any such interference. CAG officials say there is no clarity on who will audit GSTN that is held 49% by union government (along with centre and states) and 51% by financial institutions like ICICI, HDFC and LIC Housing Finance.

Data
What is the CAG?

Comptroller and Auditor General (C&AG) is a constitutionally established authority, nominated to audit all receipts and expenditure of the Central and state governments, including those of bodies and authorities substantially financed by the government. Since May 2013, Shashi Kant Sharma is the CAG.

Revenues
Why does the CAG want to audit GSTN

CAG is mandated to audit all government-backed bodies. GSTN is 49% owned by the government. CAG also sought legal support to summon any information for audit of GST receipts and utilization of funds. Finance Ministry reportedly didn't take the mandatory security clearance from the Home Ministry for setting up GSTN. Some senior officials also argue that entrusting GSTN management to private individuals isn't justified.

Share this timeline
Facebook
Whatsapp
Twitter
Linkedin
Jayasri Viswanathan
Jayasri Viswanathan
Mail
Latest
HDFC Bank
GST
Ministry of Finance
Prakash Kumar
Latest
NEET-UG: Everything to know about format, eligibility, fees, and more
NEET-UG: Everything to know about format, eligibility, fees, and more Career
Maruti Suzuki Vitara's unveiling on July 20; launch in August
Maruti Suzuki Vitara's unveiling on July 20; launch in August Auto
Pullela Gopichand and Abhinav Bindra-backed start-up launches new smart ring
Pullela Gopichand and Abhinav Bindra-backed start-up launches new smart ring Technology
#AllAboutFees: Charting Kartik Aaryan's fees for advertisements to blockbuster films
#AllAboutFees: Charting Kartik Aaryan's fees for advertisements to blockbuster films Entertainment
2022 Wimbledon: Ons Jabeur reaches semi-finals after beating Marie Bouzkova
2022 Wimbledon: Ons Jabeur reaches semi-finals after beating Marie Bouzkova Sports
HDFC Bank
HDFC-HDFC Bank merger: Here's everything you need to know
HDFC-HDFC Bank merger: Here's everything you need to know Business
Sensex rises over 100 points, Nifty above 16,300
Sensex rises over 100 points, Nifty above 16,300 Business
HDFC Bank deploys Mobile ATM in Bengaluru
HDFC Bank deploys Mobile ATM in Bengaluru Bengaluru
Samsung Galaxy S21 series goes on sale in India
Samsung Galaxy S21 series goes on sale in India Technology
Vivo Y51A goes official in India at Rs. 18,000
Vivo Y51A goes official in India at Rs. 18,000 Technology
More News
GST
New GST rule: What gets cheaper, what's costlier?
New GST rule: What gets cheaper, what's costlier? Business
GST Council's two-day meet starts today: Details here
GST Council's two-day meet starts today: Details here Business
What does it mean for films to be tax-free?
What does it mean for films to be tax-free? Entertainment
GST Council decides to postpone tax hike on textiles
GST Council decides to postpone tax hike on textiles Business
GST changes from January 1: Here's how it impacts prices
GST changes from January 1: Here's how it impacts prices Business
More News
Ministry of Finance
Sitharaman assures Sri Lanka of all possible assistance from India
Sitharaman assures Sri Lanka of all possible assistance from India World
Union Budget 2022: Here are the key takeaways
Union Budget 2022: Here are the key takeaways Business
Income Tax Returns deadline extended to March 15
Income Tax Returns deadline extended to March 15 Business
No proposal to recognize Bitcoin: Finance Ministry tells Parliament
No proposal to recognize Bitcoin: Finance Ministry tells Parliament Business
9 BJP-ruled states cut petrol, diesel rates further
9 BJP-ruled states cut petrol, diesel rates further Business
More News
Prakash Kumar
UP: Gang-raped two weeks ago, 19-year-old dies in Delhi hospital
UP: Gang-raped two weeks ago, 19-year-old dies in Delhi hospital India
Tamil film director Arun Prasath dies in a road accident
Tamil film director Arun Prasath dies in a road accident Entertainment
Delhi man kills wife and baby in front of sons
Delhi man kills wife and baby in front of sons Delhi
Ransomware attacks in India attempted over 48,000 times
Ransomware attacks in India attempted over 48,000 times India
WannaCry- Some ATMs shut, but no major impact in India
WannaCry- Some ATMs shut, but no major impact in India India
More News
Next News Article
Next News Article

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Technology News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Mukesh Ambani Indian Premier League (IPL) Karnataka Samsung Xiaomi West Bengal
Bihar Virat Kohli Rohit Sharma Haryana Narendra Modi Arvind Kejriwal Tamil Nadu Gujarat Yogi Adityanath YouTube
Instagram Hollywood News Uttar Pradesh Kerala Netflix Bollywood News Mamata Banerjee Maruti Suzuki Rahul Gandhi Elon Musk
Shah Rukh Khan Chelsea FC OPPO Akhilesh Yadav Indian Cricket Team Apple Manchester United Salman Khan Cryptocurrency OnePlus
Amitabh Bachchan ICC Women's World Cup Vivo India vs Sri Lanka
About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive IPL 2022 Schedule IPL 2022 Points Table Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2022